Pennant Expands Senior Living Portfolio with Idaho and Texas Acquisitions

The Pennant Group, Inc. (NASDAQ: PNTG), a leading provider of healthcare services, has announced the acquisition of three premier senior living facilities in Idaho and Texas. This strategic move reinforces Pennant's commitment to expanding its national footprint and enhancing the quality of care for its senior residents. The acquisition adds 188 units to Pennant's operations, comprising both assisted living and memory care services.

The acquisition in Idaho is subject to a triple net lease with the option to purchase, while the two Texas facilities are subject to a long-term, triple net lease. These acquisitions allow Pennant to meet the growing demand for senior living services and bolster its mission to provide personalized, high-quality care.

Brent Guerisoli, Chief Executive Officer of Pennant, stated, "The acquisitions in Idaho and Texas represent another step forward for Pennant as we continue to expand our operations in key markets across the country. We are dedicated to creating vibrant communities where seniors can thrive, and these facilities are an important addition to our portfolio."

Andrew Rider, President of Pinnacle Senior Living LLC, Pennant's senior living subsidiary, added, "As we simultaneously expand our presence in two states, we are excited to bring our expertise and commitment to excellence for the residents of each community. These acquisitions underscore our focus on long-term growth while delivering exceptional care to our residents."

The acquisitions in Idaho and Texas align with Pennant's long-term growth strategy by expanding its national footprint, meeting growing demand, diversifying service offerings, entering attractive markets, driving economies of scale, and focusing on high-acuity services. By clustering properties in these states, Pennant can drive synergies and cost savings through economies of scale in staffing, marketing, and administrative functions.

Moreover, the acquisition of these senior living communities enhances Pennant's competitive position in the market by strengthening its national footprint, meeting the growing demand for senior living services, and driving economies of scale through strategic market selection and clustering of properties.

In conclusion, Pennant's acquisition of senior living communities in Idaho and Texas is a strategic move that aligns with its long-term growth strategy. By expanding its operations and entering attractive markets, Pennant is well-positioned to meet the growing demand for senior living services and deliver exceptional care to its residents while pursuing long-term growth.